- Bitcoin saw 20% increase in open positions in 2022 despite price volatility
- Solana saw largest increase among top 10, with open positions rising 33%
- Just one change to the top 10 cryptoasset list with Decentraland falling out, replaced by Solana
Cryptoasset investors coalesced around big crypto names in 2022 as the market faced significant price volatility. Bitcoin retained the top spot among eToro’s most held cryptoassets, with the number of eToro users holding open positions increasing by 20% year on year , with ether (2%) and Solana (+33%) also significant risers in the top 10.
Among those that lost ground were TRON (-11%), Shiba (-5%) and IOTA (-4%). There was little overall change in the top 10 most held cryptoassets over 12 months, Decentraland fell to 12th place from 10th, despite open positions rising by 1%. Decentraland was replaced in the top 10 by Solana, which rose from 12th a year ago.
Simon Peters, crypto market analyst at eToro commented: “2022 was a tough year for cryptoasset investors, with significant price volatility that the market hasn’t experienced since 2018. Our data from 2022 show that investors sought safe haven cryptos such as bitcoin and ether. Bitcoin stands apart from other projects as it is the original decentralised cryptoasset, while Ethereum has seen high-profile developments in the past year, including the much anticipated Merge.”
| Most widely held cryptoassets with eToro 2022 vs 2021 | |||
| Cryptoasset | 2022 ranking | 2021 ranking | % change in users |
| Bitcoin | 1 | 1 | +20% |
| Cardano | 2 | 2 | -2% |
| Ethereum | 3 | 3 | +12% |
| XRP | 4 (up 1) | 5 | +1% |
| Dogecoin | 5 (down 1) | 4 | -3% |
| Shiba (in millions) | 6 (up 1) | 7 | -5% |
| TRON | 7 (down 1) | 6 | -11% |
| Stellar | 8 | 8 | -5% |
| IOTA | 9 | 9 | -4% |
| Solana | 10 | 12 | +33% |
Source: eToro platform data 00:00am 1st January 2022.
Outside of the top 10, the cryptoassets that experienced the largest growth in open positions on the eToro platform over 12 months were The Sandbox (+203%), Quant (+52%) and Axie Infinity (+32%). These cryptoassets rank 27th, 41st and 39th respectively on the platform for open positions.
| Cryptoasset which saw biggest rise in open positions with eToro in 2022 | |
| The Sandbox | 203% |
| Quant | 52% |
| Axie Infinity | 32% |
| Solana | 33% |
| Filecoin | 27% |
| Cosmos | 26% |
| Algorand | 25% |
| Polygon | 20% |
| Bitcoin | 20% |
| Celo | 19% |
Source: eToro platform data 00:00am 1st January 2022. Past performance is not an indication of future results.
Peters added: “Despite the volatility of the past year, around half of the cryptoassets on the eToro platform with at least 12 months of data have shown growth in open positions. This would suggest investors have continued to look toward the cryptoasset market for investment ideas and may have even been looking to pick up cryptoassets at a discounted price thanks to market weakness.”
– ENDS –
Notes to editors
The data in the tables represents the top 10 biggest cryptoasset risers and the top 10 most held cryptoasset positions (open positions) by global investors on the eToro platform in 2022 and 2021; it does not include positions held as CFDs or in Smart Portfolios. Data accurate as of 31st December 2022.
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